The Motley Fool Discussion Boards
Personal Finances / Building / Maintaining a Home
|Subject: Re: Replacing Kitchen Countertops||Date: 2/7/2004 9:31 PM|
|Author: SeattlePioneer||Number: 45915 of 134411|
I'm frugal and I'm a fix everything I can around my home. I also agree in not throwing out something unless it's broke. I was born during WWII. But, my stove is broke, my stainless steel sink is pitted, scratched and I don't have a finish left of my countertops. No matter how much I wax it -- it's 28 years old as are my appliances. I'm also not one to keep up with the Jones.
My purpose isn't to nitpick you, emma, and not even to be persuasive if you want to do your kitchen remodel.
My gas range is a lovely avocado green Hotpoint dating from 1972 it was in the junk pile at the gas utility where I worked, traded in on a new range, so I got it for free in 1987. I found a piece of laminate coutertop and stainless steel kitchen sink at a thrift shop when I did my remodel in 1987 ---cost me about $12 as I recall. I did spring for some new base cabinets that were unrepairable --- I painted the base cabinets and upper cabinet to match.
I probably spent $200-300 or so on that kitchen remodel in 1987. At the time, I was buying a rental property for cash, and I thought I might move into it and rent out the house I live in ---hence the need for some sprucing up.
While such frugality may lack sex appeal for many, consider what it does allow: I helped me to buy a rental property for $38,000 cash. That property today is worth $180,000 or so, and has brought in gross rents of something like $200,000 in gross rent over the years. Investments like that were possible for me as a single guy working (at the time) an office clerical job.
People are entitled to spend their money as they wish. But I think a lot of people underestimate just how high the rate of return on savings and investments can be. I like to encourage people to think about the payoff that can come from frugality, savings and investments, not just the fleeting attractiveness of new consumer junk.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|